Imara, a Phase 2 biotech developing small molecule therapies for rare genetic disorders, announced terms for its IPO on Tuesday.
The Boston, MA-based company plans to raise $76 million by offering 4.5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Imara would command a fully diluted market value of $301 million.
Imara was founded in 2016 and plans to list on the Nasdaq under the symbol IMRA. Morgan Stanley, Citi, and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of March 9, 2020.
